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TV ad hits Hagan on mortgage bill

A bipartisan bill to revamp the housing finance market co-sponsored by U.S. Sen. Kay Hagan is the target of a new television advertisement airing in North Carolina.

The 60 Plus Association is behind the ad. Highlighting the Democratic incumbent’s support for the federal health care law, the 30-second spot links her to President Barack Obama, saying now they are “teaming up to takeover the mortgage industry.” (See it below.)

With inflated language, it references an effort to wind down Fannie and Freddie Mac and create a new entity to support the housing mortgage market. Hagan is a co-sponsor of S. 1217, introduced in June with six Democratic and six Republican sponsors.

The issue is expected to advance in coming weeks, though many version of the legislation are being considered. ( Read more here.)

The organization – a political advocacy group that bills itself as the alternative to the AARP – is airing similar ads in seven states at a total cost of $1.6 million. (They target three Democrats and four Republicans.)

Gerry Scimeca, a spokesman, said the ad buy was split “fairly evenly” among the states. He said its unclear how long it will run but likely a couple weeks.

In North Carolina, the ad is showing in the in the Raleigh, Charlotte, Greensboro, Greenville and Wilmington markets.

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Under the Dome is your inside source on North Carolina politics and government and has been a regular feature in The N&O since 1934. Check here for the latest on state and federal government, political advocacy and upcoming elections. This blog is maintained by the N&O politics staff.

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